Home improvement may sound like an excellent endeavor for people who are looking into increasing their home’s value. However, not all renovations can be considered advantageous to your property. Some do more harm than good. When making improvements, be sure to know their impact on your home. While you intend to make your home more presentable to guests, neighbors, and potential buyers in the future, you can wreak havoc on its value if you choose the wrong improvement project. You can spend thousands of dollars on your home improvement project, and only get half of what you have invested. There is no real return on investment in this case.
Avoid these home improvement projects to prevent hurting your home’s value
1. Painting rooms with non-neutral colors
Repainting your rooms is one of the most affordable projects you can embark on to increase the value of your home. However, this project comes with its own set of disadvantages if you choose non-neutral paint colors. When you decide to sell your house, and your prospective buyers see your color choices, you may not obtain top value if they are already thinking of repainting. No doubt painting your home provides a good potential return on investment when selling your house. However, you need to be very careful in choosing your paint colors.
2. Fully carpeting your house
Buyers prefer houses with tile, hardwood, or engineered wood flooring. It is another home improvement project that can increase your home’s value. If your home desperately needs the flooring changed, consider the extra expense of upgrading to wood or tile. Choosing to spend less money by fully carpeting every room, is wasting your money in the long run and ends up affecting the home’s overall value. If you like the idea of adding carpets to your home, be sure that you exclude living and dining rooms. Buyers like hardwood or tile in these formal areas. Carpets can give the wrong impression that you are skimping on flooring materials.
3. Adding wallpapers to rooms
While wallpapers are making a comeback, you might want to think twice in embarking on a wallpapering project, especially if you intend to sell your home in the future. Although it can be a personal choice on your part, buyers may have a different take on this. Wallpapers are comparable to your fashion style. You may like it, while others may not. The odds that your buyers will like your wallpaper are slim. You can still keep your wallpapers until you decide to sell your home. Even real estate agents will recommend removing them to make your property more salable. Even if you spend thousands on this interior decoration, it will not matter if you were to consider the views of your buyers.
4. Kitchen renovations
We are not talking about a simple kitchen renovation, but a luxury kitchen renovation. There is a big difference. A kitchen renovation project that can increase the efficiency of this area can go a long way in improving the value of your home. However, when it is going too far, this is when problems kick in. Everyone wants a new kitchen by adding new countertops or buying new home appliances. Unfortunately, the investment you put in may not be that appealing to your prospective buyer. The high-end improvements that you perform on an average home might not be the kind of value that your buyers are looking for. Do not spend too much on new home appliances, countertops, and cabinetry. You can lose your money, especially if you are going to renovate a moderately priced house.
5. Bathroom renovations
Before selling your home, you want every area to be in tip-top shape. While there is nothing wrong with renovating your bathroom, consider it is an area that should be kept efficient. Luxury bathroom renovations may not interest an average buyer. Your potential buyers will love a bathroom that is functional and clean. However, they won’t likely want to spend more on luxuries that go beyond what is typical in your market. So by all means, re-tile it, add new grout and paint the walls. Get new fixtures and lighting if necessary. Just remember, your bathroom does not have to feature a custom tile shower or a Jacuzzi tub if no-one in your neighborhood has those features. It is not going to add value to your home equal to your expenditures. Your buyers will still consider functional but straightforward remodeling ideas as valuable.
6. Swimming pool
While they look attractive and are a lot of fun, pools do not offer the best return on investment. Swimming pools require thousands of dollars to install. You also have to maintain it regularly to keep it in good condition. Not all buyers are willing to take that responsibility. Worse, they may not even be interested in using a pool at all. Some buyers are also concerned about the safety of their children and may prefer homes without a swimming pool.
7. Over-the-top landscaping
A beautiful landscape can add curb appeal to your home. However, when homeowners go overboard by choosing a unique landscaping project, this is when problems arise. Just like wallpapering your house, buyers may not appreciate a unique landscape as everyone has different preferences and tastes. You might be tempted to make your landscaping more elaborate, but this idea will not be appealing to your buyers. Some buyers do not like the idea of maintaining a landscape and will avoid any property that has one.
Although a home improvement project is worthwhile, some improvements can cause you to lose your money. In choosing the type of improvement to make, always think about its value to your prospective buyers.